DGAP-Adhoc: Logwin AG: Sales and earnings development for the first half year 2009

 | Source: EQS Group AG EQS Group AG 

Logwin AG / Half Year Results

30.07.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------

Grevenmacher (Luxembourg) - In the first half of 2009, Logwin AG generated
net sales of 772.9 million euros (2008: 1,039.7 million euros). Due to the
market conditions, EBIT before restructuring costs and impairments amounted
to -5.3 million euros (2008: 15.4 million euros).

Restructuring costs of -6.0 million euros have been recorded for the first
half year of 2009. These costs are related to the closing down of the
freight forwarding activities at the Road + Rail location Karlsfeld near
Munich (Germany). The planned reduction of business activities in land
transportation leads to an impairment of goodwill of -27.3 million euros.
The net result amounts to -48.8 million euros for the first half 2009
(2008: 3.9 million euros).

Despite the decline in performance as a result of lower sales, net cash
flow improved compared to the previous year's figure to -5.4 million euros
(2008: -7.3 million euros). At 53.5 million euros, the group's cash and
cash equivalents remained stable.
 
As a response to the developments of the first half year, comprehensive
measures aimed at capacity adjustments and cost cuttings are being
implemented. The liquidity-oriented management of the group was further
intensified.
 
The full half-year financial report will be released immediately. It can be
found also on the company's website at www.logwin-logistics.com.

Contact:
Sebastian Esser, Head of Investor Relations
P: 00352/719690-1112, F: 00352/719690-1359
ir-info@logwin-logistics.com



DGAP 30.07.2009 
---------------------------------------------------------------------------
 
Language:     English
Issuer:       Logwin AG
              an de Längten 5
              L-6776 Grevenmacher
              Luxemburg
Phone:        +352 719 690 0
Fax:          +352 719 690 1359
E-mail:       info@logwin-logistics.com
Internet:     www.logwin-logistics.com
ISIN:         LU0106198319
WKN:          931705
Indices:      Prime All Share (PXAP), Classic All Share (CLXP), DAXsector
              All Transportation & Logistics (4N87), DAXsector
              Transportation & Logistics (CXPL), DAXsubsector All Logistics
              (4N99), DAXsubsector Logistics (I1LB)
Listed:       Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
              in Berlin, München, Düsseldorf, Stuttgart, Hamburg
 
End of News                                     DGAP News-Service
 
---------------------------------------------------------------------------
GlobeNewswire